Indy Rental News for Investors

Owners have told me that they are willing to accept a contract sale
on this condo they want to get sold fast!  Condo is a 3 bedroom 2
1/2 bath 1,540 sq.ft. two story in one of the most exclusive areas
of Indianapolis.  Average homes in Zionsville sell for between
$400k all the way up to $4 million for a 15,0000 sq.ft. private
estate.  For those that are following the Zionsville area, there is
high growth with the new Duke Anson development, the area will see
rapid expansion over the next 10-15 years.  4 star schools.

Some more details on Anson in Zionsville:

Just signed up Amazon.com
New medical buildings being built
700 new jobs from pharmaceutical plant.

Additional information here:

http://tinyurl.com/6qkx93

Do a search for “Anson Zionsville” in google, I am your local expert!

Details of contract sale is 20% down with a fixed interest rate of
between 6.5% and 7.5% 30 year amortization with a 5 year balloon on
refinance.  You can also of course purchase with a conventional
mortgage as well.

Photos of property are here:  http://tinyurl.com/5ofks4

This property does need some updating to the kitchen/baths as well
a good repaint, but you will not go wrong holding property in
Zionsville, IMHO, the best city to invest in Indianapolis right now.

This property will rent for approx $1,200-$1,350 as-is, but would
be much higher(1,500-$1,700) with some updates to kitchen and baths.

BONUS:  As an added BONUS, I will throw in one YEAR of property
management with this purchase.  With over 300 properties under
management, we know how to get your home rented quickly.

Contact us today if you have interest in this
buying opportunity in Zionsville.

Craig Bartels, Broker/Owner
Crager-Bartels Real Estate
317-490-5074 direct
craig@crager-bartels.com
MyIndianapolisHome.com

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The Crager-Bartels main office has added a new phone system that the vendor promises will allow us to work more efficiently and handle more calls. I’m paying for performance so I hope they’re right.

Multiple extensions, on hold music, we’ve spared no expense–but we did stick to a budget. So for the next few weeks when you call in give us a chance to learn all the new features before you bite our heads off–there always seems to be a break in period in even the simplest or most fool proof business tools we all use in today’s business.

Also please welcome Karen Parker to our Property Management staff at Crager-Bartels. If you get lucky, you just may speak to this wonderful new addition to our team. She is already learning at a quick pace and will be up to 100% full speed very soon I’m sure of it.

Finally, I want to remind you that Indianapolis refuses to take part in the national real estate slump. I’ve said it before and I’ll do it again–Indianapolis fell into the real estate slump a full 2+ years before the rest of the nation and because of this has recovered 2 years ahead of the rest of the nation. Prime time to make a purchase is through June 2009 and there is no time better than today for investing in a new home in Indianapolis. Indy’s market is on a slow and steady pull into profitability and we still have access to good inventory. If you have an agent talk to them if not give Derek or Craig a call asap. 317.796.9825 or 317.490.5074.  Making this kind of money in real estate only happens once every twenty years.

Medco Health Solutions to open huge distribution center. It’s not too late for you to cash in. Call Derek or Craig now to reserve your next property. 317.796.9825 or 317.490.5074 We estimate that the average investor who buys properties in Indianapolis Indiana will earn $1,000,000 in the next ten years. Buy now or lose out on the best opportunity in the next twenty years.

Below is a breaking story, just 47 minutes old, that announces Indiana’s biggest economic development this year. The Anson development is in Indy’s NW corner on highway I-65. My partner, Craig Bartels, saw opportunity here when he bought his first family home just a few blocks away. Craig’s home has doubled in value in only eight years. The announcement below will continue the trend of residential growth and appreciation for this part of Indianapolis.

Original Link

Boone County has won an intense, three-way competition to land Indiana’s biggest economic development project in more than a year: a massive, mail-order pharmacy that will employ 1,300 people.

Medco Health Solutions of Franklin Lakes, N.J., is expected to announce Tuesday that it has chosen the AllPoints industrial project at Anson, west of Zionsville, as the site for its huge distribution center, said Boone County Commissioner Huck Lewis.

The facility will be 318,000 square feet, roughly the size of six football fields, the company has said.

Medco picked the site because of its access to Northside workers, as well as its proximity to I-65, the airport and Downtown Indianapolis, said another person familiar with the deal.

Medco, one of the nation’s largest pharmacy distribution companies, said last month that it would build the facility somewhere in Central Indiana and had narrowed its choices to Boone, Hendricks and Johnson counties. The company has two other large distribution centers, in New Jersey and Nevada. The Boone County site will become the company’s largest.

A Medco spokeswoman declined to comment today. But Lewis confirmed that Medco was coming to Anson, a 1,700-acre mixed-use development in Whitestown, a few miles northwest of the intersection of I-65 and Ind. 334. The Anson development also includes offices, retail and residential areas.

Medco said last month that it would invest $150 million in the new facility, which will employ 1,300 people by 2012, with an average wage of $53,000.

That could make it Boone County’s largest employer, Lewis said. “We’re real glad to see them coming,” he said. “This is going to have a major impact on the county, Anson and our tax base.”

Boone has been relatively slow to develop and has long had a slow-growth reputation with residential and commercial developers and builders.

Boone County Republican Chairman Tom Easterday, when informed of the announcement, said: “That’s fantastic. It clearly fits with the high-tech and high-paying jobs that we want for Boone County.”

Easterday, who is a vice president of Subaru in West Lafayette and played no direct role in luring Medco, said he had been following and waiting for the Medco decision when he learned that Boone County was a finalist.

“All three counties appeared to have some advantages,” he said. “We believe Boone offers a perfect location and the corporate environment that Anson provides. The location is 20 minutes to the airport and to Downtown.”

Some local residents have complained that Anson has not developed as quickly as expected, but Lewis said that Medco should help the development gain momentum.
“It’s just that the people here wanted an appropriate type of growth that creates quality jobs that benefit the county as a whole and can help to raise the standard of living,” he said.

Duke Realty, which is developing the Anson site, declined to confirm the news. The company issued a media advisory shortly before 5 p.m. Monday announcing a news conference Tuesday morning with “representatives from a new company locating to Indiana.”

Also scheduled to attend are Lt. Gov. Becky Skillman and representatives from Duke, Browning Investments and the Boone County Economic Development Corp.
Medco said last month that it was attracted to Central Indiana primarily because of the region’s work force. The state has two pharmacy schools, at Butler and Purdue universities, that could help the company staff the center in the midst of a national pharmacist shortage.

About 120 positions will be pharmacists, with the rest consisting of pharmacy technicians, engineers, information technology specialists and managers.

Last year, Medco dispensed 553 million prescriptions. Its mail-order service rang up sales of $16 billion last year.

Star reporters Bruce Smith and Jason Thomas contributed to this story.
Call Star reporter John Russell at (317) 444-6283.

Craig and Derek are co-founders of Crager-Bartels Real Estate, Indiana’s only true FULL SERVICE real estate company. Buy, Sell, Invest, Manage & Grow your portfolio with Crager-Bartels Real Estate.

To counter the annual slowdown of the rental market in Indianapolis Indiana and the surrounding communities, Crager-Bartels Real Estate has tripled our ad budget for this year.

Why have we done this?  Because we value our clients’ trust in us to maximize return on investment and minimize monthly expenses.

Crager-Bartels Real Estate services has demonstrated this past year that we rent your properties in and around Indianapolis Indiana at 10% to 18% more than any other property management firm in the area.  Through this past season we set records as to the speed of which we rented your new properties.  1/3 were rented on the day of close.  1/3 were rented within one week of close.  That’s 2/3 of all properties we manage being rented withing seven days at above market rents.

Is there opportunity in Indianapolis today?  The major media outlets and research centers say so.  The question to ask yourself today is not ‘What I can make by investing in Indianapolis Indiana metropolitan area?’ but ‘How much will I lose by investing elsewhere or not at all?’

Have any questions?  Give Derek or Craig a call.  With decades of experience, we are the Indy Resourcing Experts!

317.796.9825  317.490l5074  317.839.8786

Wow!  What a weekend in Chicago.  It’s now 2:15am Monday morning and I just got home.  Craig will get home in about 30 minutes.

I just had to share with you some great news.  We just spent three days in Chicago at the Donald Trump / Learning Annex Real Estate Expo and had a blast.  We learned a lot too.  The biggest item of interest for you is the unquenchable thirst for property in Indianapolis that became a common theme for many people that we spoke to.  This confirms the fact that you have made a good choice in location for your property investment.

Craig and I got to meet Donald Trump, Tony Robbins & Joe Vitale(The Secret).  Additionally, Alan Greenspan made an appearance as well as George Foreman, Dr. Albert Lowry(The godfather of real estate investing) and Than Merrill from A&E’s Flip This House.  A few others you may have heard of, Robert Shemin, David Lindahl & James Smith.  There were over 30 speakers total.

The overall appreciation for the Indianapolis market really caught us by surprise.  I know you are smart enough to already have purchased your property in Indy–way ahead of the curve I believe.  From the actions and reactions I saw this past weekend Indianapolis will continue to be a great place to buy with property appreciation almost guaranteed.

From my point of view I currently recommend continued buying in the Indianapolis market for the next six months–the next three are optimum.  I say three months because this will allow you to close and take possession of your home at the beginning of spring, which is the best time of the year to market properties around here.  When I say best I mean that rental amounts are the highest and vacancy rates are the shortest.

What gives me my current optimism?  What is the impetus of my recommendation?  If you ever invest in the stock market one of the rules of profit is to follow the smart money.  In this weekend alone I personally met three groups that plan to invest $50 Million to $200 Million in the Indianpolis area.  What does this mean for you?  You are a smart investor, you already know what this means–this means that additional purchases will secure the growth and appreciations of your properties.  The more you own in Indianapolis, the more your investment will grow.

There has been a lot of talk lately about the Go Zone investment areas in North America.  Sounds great on the surface–the first two years will provide great benefits, but tell me this.  What happens ‘If’ these areas are over built?  Any market frenzy brings about opportunity, but for security you need continuity.  Indianapolis has continuity–do the go zone areas have stability?  Remember the gold rush in the 1800′s?(If you do personally, I’ll buy you lunch.)  The gold rush sounded great.  It sounded like opportunity for the masses but the reality of it was that only 10% of these speculators actually made a good profit.  Many died of hunger or were taken advantage of by opportunists who exploited the situation.  Don’t let this GoZone frenzy cause you to make poor decisions and cost you a fortune.

Alan Greenspan spoke of irrational exhuberance in the stock market in the late 1990′s.  On CNN last week he spoke of this phenomenon in the real estate market.  Just because everyone else is doing it, doesn’t make it right–or safe–or secure–or legal, etc.  I firmly believe that Indianapolis is ‘THE’ best place in America to invest.  Or course I’m biased, I live her and have for 40 years.  But the reality of my geographic location has actually caused me to ‘Not see the forest for the trees.’  I didn’t realize how good an investment Indianapolis truly is until about the fifth or sixth national article that told how great a place Indianpolis is to invest.  CnnMoney, Business 2.0, USA Today, Moody’s Investor Service, etc., etc., etc.  Just like the 1970′s song, “I can see clearly now, the rain is gone”, that is how I feel right now and the Chicago Real Estate Expo had 50,000 attendees who heard and read the same articles and predictions.

Bottom line–Congratulations on being at the forefront of those who saw Indianapolis as the best place to invest.  I’ll leave you now with a quote from one of my all time favorite investors, Warren Buffet. “Put all your eggs in one basket–just watch that basket real close.”

The Crager-Bartels Team have found a few great deals from the close-outs that KB homes is having in the Indianapolis marketplace. All three will cash flow nicely and are great homes for the $$$

If you purchase one of these properties through Crager-Bartels Real Estate, we will throw in the 1st year of property management for FREE

KB is having 10% off on all move-in homes until Sunday through Crager-Bartels Real Estate. This is on top of the substantial discounts they are currently offering to move their inventory homes.

why the massive discounts? KB homes is moving out of the Indianapolis marketplace and wants to sell their current inventory homes fast. Their loss is your gain.

Brookfield Place by KB Homes

Of the 30+ inventory homes I have researched over the past few days, there is three that come up as good investments with positive cash flow for investors such as yourself. These are as follows:

1)8025 Cole Wood Blvd. Original price was $166,345. After first set of discounts and the additional 10% off, this home is now priced at $130,410. This is a 3 bedroom with a bonus loft, 2 car garage, upgrades, almost 2,300 sq.ft.
2)8005 Harshaw Drive. Original price was $164,578. After all discounts including the 10% off current promotion we have captured, this home is priced at $125,910. This is the best deal of all three. 3 bedroom 2 1/2 bath two story with 2,456 sq.ft. 3 car garage! And an extra 4 season sunroom directly off the kitchen. This one will not last long at all at this price. I don’t think I have ever seen a new home with a 3 car garage go for $126k.
3)8038 Harshaw Drive. Original price was $212,523. After discounts and the additional 10% off, this investment can be yours for $152,910. This is a large 4 bedroom with a bonus loft, 2 car garage, and 3,084 sq.ft. We have one identical to this rented out two blocks away for $1,500/month.

Here is some additional photos of these

cash flowing Indianapolis properties:

8005 Harshaw Place Cash Flow

8038 Harshaw Place Cash Flow

8025 Cole Wood Blvd Cash Flow

If you are interested in purchasing any of these properties, contact Craig Bartels at 317-490-5074 or Derek Crager at 317-796-9825.

Indianapolis Homes For Sale

This is another great reason to invest in the suburban Indianapolis, Indiana area. Sustained job growth and great pricing.

PLAINFIELD, Ind. — Browning Investments and Duke Realty Corp. on Thursday began concerted marketing of their AllPoints industrial parks — developments that could land up to 10,000 jobs over the next decade.

The Indianapolis-based developers joined forces in the $745 million plan for development of the business parks in Hendricks and Boone counties.

With helicopter rides, Browning and Duke executives took to the air to show real estate brokers and potential tenants how the two parks nearly 15 miles apart will be linked together and to interstate highways via the new Ronald Reagan Parkway.

If marketing pays off, the AllPoints parks will have one of the largest concentrations of jobs and business investment in Central Indiana, officials said.

The joint developments were timed to take advantage of a booming interest in new office, light industrial, warehouse and distribution buildings.

Charles E. Podell, senior vice president of Duke, said the market for large industrial buildings of hundreds of thousands of square feet — which has been in turmoil since 9/11 — has shifted.

“We’ve seen more deal activity in the last eight weeks than we’ve seen in the last couple of years,” said Dennis Dye, executive vice president of Browning.

AllPoints is divided into two sites. The 922 acres on the northeast side of Plainfield, AllPoints Midwest, is prepared for 12.5 million square feet of industrial buildings. That represents a potential of 5,200 jobs as approximately 14 buildings go up.

The developers have the first building, about 646,000 square feet for bulk storage, under construction on the speculation that a tenant will be signed soon.

It will sit next to a new section of Ronald Reagan Parkway that is also under construction by Plainfield under a $14 million bond issue to expand roads in the industrial park area.

Duke Vice President William D. Friedman said AllPoints Midwest is also next to a large railroad yard in Avon, in a perfect spot to receive a share of the $5 billion in foreign-made goods flowing into Indiana each year.

The other portion of the project, AllPoints Anson, is 616 acres at the I-65 and Ind. 267 interchange, west of Zionsville and next to Whitestown in Boone County. It will have 24 smaller buildings totaling 7 million square feet for light manufacturing. The first building of about 630,000 square feet is up, and work on a 280,000-square-foot structure will begin soon.

Where would you like your next investment to be?  Call Derek or Craig for a free investor consultation on the latest, greatest and unadvertised places to invest in the suburban Indianapolis, Indiana area.  317.796.9825 or 317.490.5074

Editor’s Note: Keep Buying in Indy. Call Derek or Craig for the best investment opportunities in town.  317.796.9825, 317.490.5074, 317.839.8786

(Washington – June 28, 2007) – The metropolitan areas encompassing Indianapolis-Carmel, Ind. and Youngstown-Warren-Boardman, Ohio-Pa. tied for the title of most affordable major U.S. housing market in this year’s first quarter, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI), released today. Meanwhile, lower home prices and mortgage interest rates helped boost housing affordability across the nation in the first three months of this year.

“The latest HOI shows that about 44 percent of new and existing homes that were sold in the United States during this year’s first quarter were affordable to families earning the national median income,” said NAHB President Brian Catalde, a home builder from El Segundo, Calif. “This is up from 41.6 percent of homes sold in the final quarter of 2006, and is likely the result of lower house prices as well as the very favorable financing conditions that existed at the beginning of this year.”

“The national weighted interest rate on prime quality fixed- and adjustable-rate home mortgages, which is used in calculating the HOI, slipped to 6.4 percent in the first quarter of this year, down from 6.52 percent in the final quarter of 2006 and the lowest level since the first quarter of 2006, when it was gauged at 6.39 percent,” said NAHB Chief Economist David Seiders. “Meanwhile, following a strong nationwide surge that started in early 2004 and continued through mid-2006, overall home prices weakened for three consecutive quarters leading up to and including the period encompassing January through March of 2007. Together, these factors improved the typical family’s ability to purchase a home,” he said, “although tightening of lending standards in the subprime component of the mortgage market certainly affected more marginal credit risks as the first quarter drew to a close.”

In the nation’s most affordable major housing markets of Indianapolis and Youngstown, 89 percent of new and existing homes that were sold during the first quarter of this year were affordable to families earning those areas’ respective median household incomes of $63,800 and $51,400. The median sales price of all Indianapolis homes sold in that time frame was $116,000 and the median sales price of all Youngstown-area homes sold was just $78,000. Also near the top of the list for affordable major metros in the first quarter was Dayton, Ohio, followed by Detroit-Livonia-Dearborn, Mich., and Grand Rapids-Wyoming, Mich., respectively.

Midwestern metros also dominated the list of the most affordable smaller housing markets (defined as those with fewer than 500,000 people). Kokomo, Ind., was at the top of that list, followed by Lansing-East Lansing, Mich.; Lima, Ohio; Saginaw-Saginaw Township North, Mich.; and Bay City, Mich., in that order.

Once again at the bottom of the affordability scale was Los Angeles-Long Beach-Glendale, Calif., where just 3 percent of homes sold in the first quarter were affordable to families earning the metro’s median household income of $61,700. The median price of all homes sold in that area was $525,000. As usual, Los Angeles shared the bottom of the affordability scale with other major California metros including Santa Ana-Anaheim-Irvine as the second-least affordable, San Francisco-San Mateo-Redwood City as the fourth least affordable and Modesto as the fifth least affordable large housing markets in the nation. As the third least affordable major metro, New-York-White Plains-Wayne, N.Y.-N.J. was the only non-California location within the bottom five.

Continuing the trend, all five of the least affordable small cities (populations under 500,000)

were located in California during the first quarter, with Salinas at the very bottom of the chart followed by Merced; Santa Barbara-Santa Maria-Goleta; Napa; and San Luis Obispo-Paso Robles.

Governor Mitch Daniels ordered a complete reassessment of both residential and commercial property in Marion County.  ie Indianapolis Indiana.  2007 taxes will remain the same as 2006 tax bill.

This takes care of a rumor that Marion County was going to absurdly raise the taxes in Indianapolis Indiana.  Thanks Mitch.  I’ve never had a good thing to say about you until today.

The Crager-Bartels Team has added an Online Payment Center to their rentability tool box.

With todays electronic environment it is important to stay ahead of the competition. The Crager-Bartels Team has done just that by adding an online payment option for their tenants. Tenants have lost the excuse “The Check Is In The Mail” and “I’m out of town. Can I pay you next week?”

It’s good news for the tenants who rent from Crager-Bartels too. Late fees begin at $50 and go up from there. Having the ability to pay with a credit card saves the tenant time, money and reputation.

Derek Crager advises tenants not to rely on this method of payment every month though. “Its a great option for times when you don’t get your check to the bank on time or when your car breaks down and money is going elsehere. Long term use will increase the interest paid to credit card accounts.”